These reforms are a direct response to a triple crisis facing the Nigerian economy:
- Low Revenue: A critically low tax-to-GDP ratio of 13.5%.
- Complex System: An overwhelming and business-unfriendly environment with over 60 different taxes.
- Inefficient Enforcement: A system with significant leakages and compliance gaps.
The ultimate goal is ambitious but clear: to increase Nigeria’s tax-to-GDP ratio to a more sustainable 18% by the year 2027.
